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2023-10-13

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Outset Medical Shares Plunge 36% After Lowering Revenue Guidance

Shares of Outset Medical sank after the company reported lower-than-expected preliminary third-quarter revenue and warned of lower capital spending in the fourth quarter.The stock was down 35.8% to $4.35 in premarket trading Friday, after falling 11% at Thursday's close. Shares are down 74% this year.The San Jose, Calif.-based medical technology company said its revenue rose 9% to $30.4 million in the third quarter, according to preliminary results, missing the $36 million forecast by analysts,

Outset Medical Shares Plunge 36% After Lowering Revenue Guidance

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Shares are down 74% this year.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bdb1022c4caa30e378c08adad0c9dbfe\" tg-width=\"843\" tg-height=\"624\"/></p><p>The San Jose, Calif.-based medical technology company said its revenue rose 9% to $30.4 million in the third quarter, according to preliminary results, missing the $36 million forecast by analysts, according to FactSet.</p><p>Outset said it expects full-year revenue of $130 million, compared with prior guidance of $140 million to $150 million. Analysts polled by FactSet expected revenue of $144.6 million.</p><p>Chief Executive Leslie Trigg said the company saw a larger-than-expected impact in the field from a recent Food and Drug Administration warning letter. The company is also expecting headwinds from more cautious capital spending in the fourth quarter.</p><p>Outset said it didn&#39;t see any deals fall out of its pipeline.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OM":"Outset Medical Inc."},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2375957531","content_text":"Shares of Outset Medical sank after the company reported lower-than-expected preliminary third-quarter revenue and warned of lower capital spending in the fourth quarter.The stock was down 35.8% to $4.35 in premarket trading Friday, after falling 11% at Thursday's close. 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